Matador Resources (NYSE:MTDR) Short Interest Update

Matador Resources (NYSE:MTDR) saw a significant growth in short interest in March. As of March 15th, there was short interest totalling 7,970,000 shares, a growth of 25.7% from the February 28th total of 6,340,000 shares. Approximately 6.9% of the company’s stock are short sold. Based on an average daily volume of 1,350,000 shares, the days-to-cover ratio is currently 5.9 days.

Insider Activity

In other news, Director Paul W. Harvey bought 600 shares of the stock in a transaction dated Friday, February 21st. The stock was bought at an average price of $55.20 per share, for a total transaction of $33,120.00. Following the completion of the acquisition, the director now directly owns 27,917 shares in the company, valued at approximately $1,541,018.40. This trade represents a 2.20 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph Wm Foran purchased 6,000 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were purchased at an average price of $53.94 per share, for a total transaction of $323,640.00. Following the completion of the acquisition, the chief executive officer now owns 39,379 shares of the company’s stock, valued at $2,124,103.26. The trade was a 17.98 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 21,350 shares of company stock worth $1,100,769 over the last 90 days. 6.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Matador Resources

Large investors have recently added to or reduced their stakes in the business. Altshuler Shaham Ltd purchased a new stake in shares of Matador Resources in the 4th quarter valued at about $25,000. TCTC Holdings LLC increased its position in shares of Matador Resources by 53.8% in the fourth quarter. TCTC Holdings LLC now owns 500 shares of the energy company’s stock worth $28,000 after purchasing an additional 175 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Matador Resources by 108.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 492 shares of the energy company’s stock valued at $28,000 after purchasing an additional 256 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in Matador Resources by 68.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 510 shares of the energy company’s stock valued at $29,000 after purchasing an additional 207 shares during the last quarter. Finally, SRS Capital Advisors Inc. grew its stake in Matador Resources by 359.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 579 shares of the energy company’s stock worth $33,000 after buying an additional 453 shares in the last quarter. Institutional investors own 91.98% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on MTDR shares. Morgan Stanley cut their price objective on Matador Resources from $84.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 27th. Stephens boosted their price target on shares of Matador Resources from $78.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Truist Financial lifted their price objective on shares of Matador Resources from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. reduced their target price on shares of Matador Resources from $76.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Finally, Raymond James lowered their price target on shares of Matador Resources from $77.00 to $67.00 and set an “outperform” rating on the stock in a report on Monday, March 10th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Matador Resources currently has a consensus rating of “Moderate Buy” and an average target price of $73.79.

Matador Resources Price Performance

MTDR traded up $0.01 during trading on Tuesday, reaching $51.10. 908,042 shares of the company were exchanged, compared to its average volume of 1,392,232. Matador Resources has a 12-month low of $43.89 and a 12-month high of $71.08. The company’s 50-day moving average is $54.02 and its two-hundred day moving average is $54.93. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.61. The company has a market cap of $6.40 billion, a price-to-earnings ratio of 7.16 and a beta of 3.17.

Matador Resources (NYSE:MTDR) last released its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.83 EPS for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.05). The firm had revenue of $970.37 million during the quarter, compared to the consensus estimate of $967.10 million. Matador Resources had a net margin of 25.26% and a return on equity of 18.52%. Research analysts forecast that Matador Resources will post 8.53 earnings per share for the current fiscal year.

Matador Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.3125 per share. This is a positive change from Matador Resources’s previous quarterly dividend of $0.25. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend was Friday, February 28th. Matador Resources’s payout ratio is 17.51%.

About Matador Resources

Matador Resources Company, an independent energy company, engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States. It operates through two segments, Exploration and Production; and Midstream. The company primarily holds interests in the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas.